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Home Sector Trade

UAE & Saudi Arabia to join BRICS economic group

4 September 2023
in Trade
Reading Time: 2 mins read
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BRICS

The United Arab Emirates (UAE), the Kingdom of Saudi Arabia, and Egypt are among six countries that have received invitations to join the BRICS group of nations. This decision was reached during a three-day summit of BRICS, the international trade alliance originally comprised of Brazil, Russia, India, China, and South Africa. The announcement of the new memberships came from South African President Cyril Ramaphosa.

Joining the UAE, Saudi Arabia, and Egypt in the expanded BRICS group are Argentina, Iran, and Ethiopia. The inclusion of these new member nations will take effect on January 1, 2024.

Sheikh Mohamed bin Zayed Al Nahyan, UAE President and Ruler of Abu Dhabi, welcomed this decision through a post on X, formerly known as Twitter. In his statement, he expressed the UAE’s respect for the BRICS leadership’s vision and appreciation for the invitation to join this important group.

“We look forward to a continued commitment of cooperation for the prosperity, dignity, and benefit of all nations and people around the world,” Sheikh Mohamed bin Zayed Al Nahyan stated.

The UAE President was represented by a high-level delegation in Johannesburg during this announcement. Led by Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, the delegation included Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State; Reem Al Hashimy, Minister of State for International Cooperation; Mahash Saeed Al Hameli, UAE Ambassador to South Africa, and several senior officials.

Among the key agendas for the UAE delegation during this summit were discussions on the expansion of BRICS membership and addressing various global economic issues.

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